Friday, September 21, 2012

Prosperity Economics - Building an economy for All


The United States faces two pressing economic prob-
lems. The first is immediate: Almost five years after
the financial collapse, joblessness remains rampant
and the economy is recovering far too slowly. The
second problem is deeper: the breaking of the his-
torical connection between growing economic output, on
the one hand, and middle-class wages and income, on the
other. Over the last generation, the productivity of
American workers—output per hour of work—grew
substantially. Yet, in a sharp break with the past, wag-
es for most workers stopped rising in tandem with
productivity. The gains of economic growth instead
accrued disproportionately to affluent Americans.
Along with these increased economic gains, wealthy
Americans, large corporations, and Wall Street also
gained greater political clout relative to the American
middle class.

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